Cryptocurrency

[Andy2]

I am thinking of starting a catcoin to compete with dogecoin

[_V_]

As a novice, Ethereum has gone mental

Sell or keep for the long term ? any good insights?

Also where is the best place to buy XRP? as cant hold on Coinbase

Most exchanges delisted XRP due to the ongoing legal battle with the SEC. XRP is the only crypto that isn't going anywhere, anytime soon.

[d000hg]

Here's a more detailed question, what is staking? I have looked on Kraken's docs and read a bit on Google but it still doesn't seem to address fairly basic questions what it is and why.

Seems like you are 'loaning' some of your currency to support the 'machinery' running the blockchain itself, and in return you get rewarded. I think the reward is effectively a share in profits made in the process... effectively you are buying in to the mining or whatever?

[saptastic]

Most exchanges delisted XRP due to the ongoing legal battle with the SEC. XRP is the only crypto that isn't going anywhere, anytime soon.

Yeah I know they don't want to be seen to be listing an "illegal" currency - but I think when they win the SEC case, XRP will go places.

[Andy2]

Here's a more detailed question, what is staking? I have looked on Kraken's docs and read a bit on Google but it still doesn't seem to address fairly basic questions what it is and why.

Seems like you are 'loaning' some of your currency to support the 'machinery' running the blockchain itself, and in return you get rewarded. I think the reward is effectively a share in profits made in the process... effectively you are buying in to the mining or whatever?

Don't fall for that. These websites promise 10-12% return on your crypto but one fine day they will disappear.
They even offer 10% return on GBP when the banks are giving 0.5%.

[AtW]

Yeah I know they don't want to be seen to be listing an "illegal" currency - but I think when they win the SEC case, XRP will go places.

Yeah, with the major pipeline supplying half of US East Coast being extorted money by ransomware, which relies on tulipcoins to get the perps their money - that's an obvious crackdown that's been long coming, for ALL tulipcoins.

[Jog On]

Anyone still holding BAX (BABB) has has a very interesting ride this past month or so. And there's a lot more to come from the sounds of it.

What have you heard? I'm considering dumping mine, but would be interested to know

[Jog On]

As a novice, Ethereum has gone mental

Sell or keep for the long term ? any good insights?

Also where is the best place to buy XRP? as cant hold on Coinbase

Depends what your goals are, I have a long term stash of ETH I plan to never sell and also a short term amount to cash out at the end of this bull cycle. I do this with BTC and my other 'blue chip' coins. That said it will be interesting to see what the end of this bull cycle will look like for ETH as it is the GAS for most DeFi so has real utility. I think even if there is a big 2018 style crash everyone cashing out will go into stablecoin DeFi and they'll still need to use ETH to transact even in a bear market. Also if NFTs don't die out then ETH will be used to mint and trade them as well.

Of course there are other cheaper to use smart contract blockchains that could displace Ethereum for both Defi and NFTs but that remains to be seen. If and when we see institutional adoption of DeFi and they go with ETH then who knows how high it will go and stay. Unless they make their own DeFi blockchain(s) or go with a far cheaper, quicker and already established within the financial industry project like Flare (Ripple) which is launching soon...

...Which brings me on to XRP - you can see all the exchanges it's listed on (and any other coin) on Coingecko

[Jog On]

Here's a more detailed question, what is staking? I have looked on Kraken's docs and read a bit on Google but it still doesn't seem to address fairly basic questions what it is and why.

Seems like you are 'loaning' some of your currency to support the 'machinery' running the blockchain itself, and in return you get rewarded. I think the reward is effectively a share in profits made in the process... effectively you are buying in to the mining or whatever?

With staking you are putting your funds into a pool along with others who have done the same. This provides liquidity for people trading on DeFi. Some protocols will pay you a % of the trading fees generated by that liquidity, some will pay you in their own native token and some will do both. This happens mostly on decentralised finance projects through smart contracts all completely run by code.

Centralised exchanges offering this will let you stake your funds with them and they will then stake them on Defi and pay you some of the interest. You can get all the interest by staking straight on DeFi (and assume the risk) or stake them with Exchanges or other centralised (CeDefi) projects and take less APY% but your funds are relatively safer depending on who you're staking with.

[Jarman]

Most exchanges delisted XRP due to the ongoing legal battle with the SEC. XRP is the only crypto that isn't going anywhere, anytime soon.

most exchanges? Still on Binance or KuCoin or Kraken. Coinbase is the only big exchange that delisted them... did I miss any other?